Brokers' take

Sembcorp Marine > Buy OCBC Investment Research, April 28 Target price: S$2.01 April 28 close: S$1.63

IN Q1 2017, Sembcorp Marine had new orders of S$75 million. New order enquiries relating to non-drilling solutions have increased over the past two months. SembMarine has made progress in the development of its near-shore gas infrastructure solutions using its Gravifloat technologies. With better visibility of new order flow relating to Gravifloat, we raise our valuation from 1.4x to 1.6x FY17F book (still lower than the -1 standard deviation of 1.95x since 2003), and our fair value estimate rises from S$1.76 to S$2.01.

Sembcorp Marine > Hold RHB, April 28 Target price: S$1.65 April 28 close: S$1.63